Major Bitcoin Factors Indicating A Massive Cryptocurrency Bull Run!

Our Three Reasons for a Massive Crypto Bull Run:

1. Bitcoin Price is Rising While BTC Dominance is Decreasing
2. Institutional Capital, Investment and Interest
3. Increasing Bitcoin Hashrate and BTC’s 2020 Reward Halving

One of the Key indicators of the upcoming bull run is bitcoin price moving upwards yet the dominance decreasing. In the last few months bitcoin price has been surging rapidly and regularly yet it’s dominance has been decreasing :

https://www.tradingview.com/chart/?symbol=CRYPTOCAP%3ABTC.D

This symbolizes that there is serious confidence of investors building in the crypto space and is an extremely bullish sign for the entire crypto space.

There have been many indicators that suggest that Bitcoin is getting more and more interest from institutional investors. While we can chose to not care about their involvement and some of wish we can do without them, it is important to know what is happening and it’s implications because, this is happening regardless of what we chose. Institutional investors usually dont enter into assets for the short term and add more stability and liquidity in dollars to the space. But it is safe to assume we should not trust their intentions and should be important to not lose our precious bitcoin to them, and sometimes HODL is a good policy. With that said there is a lot of movement happening with BAKKT –

From literally NO one trading Bakkt’s bitcoin options:

https://www.coindesk.com/while-cme-shines-literally-no-one-is-trading-bakkts-bitcoin-options

TO

Open interest in monthly bitcoin futures on the Intercontinental Exchange’s (ICE) Bakkt platform jumped to record highs. More Bakkt futures contracts are settled in Bitcoin than in cash and these Physically-settled futures present a bullish case for Bitcoin.

https://cryptoslate.com/more-bakkt-futures-contracts-are-settled-in-bitcoin-than-in-cash/

The price of bitcoin is moving irrespective of increase in chatter on reddit and google trends indicating not much movement from the retail investor side. I think this fact enough is making the next run of crypto extremely exciting.

https://www.newsbtc.com/2020/02/14/data-shows-bitcoins-progression-from-retail-to-institutional-asset/

In our tweet from May 16 2019 when BTC price war around $,7,700 we indicated that price of bitcoin should be around 12,000 during halving in May 2020 as cost of production of bitcoin was around $2800-$3000.

https://twitter.com/Altcoinbuzzio/status/1128709273712611328

However the cost of production of Bitcoin with the constant surge in Hashrate has gone to $6,851 according to this article:

https://www.coindesk.com/for-crypto-miners-bitcoins-halving-could-mean-a-doubling-in-costs

So the minimum cost of BTC around halving can be expected to be AT LEAST $15,000 as it’s cost of production would exceed $12,500, keeping into account the HASHRATE remaining constant.

And also looking at charts historically:

https://ihodl.com/infographics/2018-04-09/chart-day-bitcoin-reward-halving-and-price-history/

Bitcoin Price is always post run the halving and historically not factored in the price, so it’s quite possible we have a long run ahead of bitcoin going to new highs is all goes right!

Also the bitcion Halving is closer to what we expected:

https://www.altcoinbuzz.io/cryptocurrency-news/blockchain-technology/forget-the-mid-may-bitcoin-halving-its-happening-earlier/
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Post Author: CoinCryptoNews